CONNECT

Address:

819 West 7th Avenue 
Spokane, WA 99204

Phone:

509-327-1171

Fax/Other:

509-327-1181

 

 

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If you have any questions about planning for your retirement, CONTACT a Balderson & Hebert, LLC Advisor today!

 

 

GENERAL INFORMATION

Yes

No

N/A

1. Has relevant personal information been gathered?

  • Age
  • Age of spouse or partner
  • Number of minor children and their ages

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2. Has financial situation been assessed?

  • Estimated annual expenses during retirement
  • Estimated annual income during retirement (pretax and after-tax)
  • Total assets and savings to date
  • Total retirement savings to date
  • Estimated yearly contribution to retirement savings
  • Total liabilities to date
  • Income tax bracket and filing status
  • Health insurance coverage for each spouse
  • Long-term care insurance coverage for each spouse
  • Life insurance coverage for each spouse
  • Wills, durable power of attorney, health-care proxy, and other estate planning information
  • Beneficiary designations

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Notes:

 

 

DETERMINING RETIREMENT INCOME NEEDS

Yes

No

N/A

1. Has life expectancy been estimated to project how long retirement will last?

 

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2. Have clear goals and objectives been established for retirement?

 

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3. Have other major financial goals been funded or achieved?

  • Pay off home mortgage
  • Fund children's education
  • Buy retirement home
  • Other

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4. If not, have those other goals been prioritized with retirement goals?

 

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5. Have annual retirement expenses been estimated, keeping in mind that those expenses may change from year to year?

  • Food, clothing, housing
  • Insurance
  • Health care
  • Travel and recreation
  • Other

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6. Have annual retirement income needs been estimated, based on the preceding goals and expenses?

 

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7. Has expected annual income been estimated, and will that income be sufficient to meet retirement needs?

  • Social Security
  • Pensions
  • Savings and investments (including IRAs and retirement plans)
  • Job earnings
  • Other

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8. If not, are there steps that can be taken to bridge the gap?

  • Work part-time
  • Cut expenses
  • Set more modest goals
  • Delay retirement
  • Other

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9. Have inflation, taxes, and conservative rates of return been factored into these estimates?

 

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Notes:

EMPLOYER-SPONSORED RETIREMENT PLANS & IRAs

Yes

No

N/A

1. Is a 401(k) or other employer-sponsored retirement plan funded?

 

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2. Is an IRA in place?

  • Roth IRAs
  • Traditional IRAs

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3. Are the tax issues associated with taking distributions from IRAs and employer-sponsored plans understood?

 

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Notes:

 

 

ANNUITIES & OTHER SAVINGS TOOLS

Yes

No

N/A

1. Are there annuities, or has thought been given to purchasing annuities?

 

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2. If so, is the taxation of annuities and the payout options available understood?

 

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3. Have a payout option and payment beginning date been chosen?

 

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4. Are there other savings tools owned, whether part of the retirement portfolio or not?

  • Cash value life insurance
  • Mutual funds
  • Stocks and bonds
  • CDs
  • Other

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5. If so, are the tax issues surrounding these tools understood?

 

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Notes:

 

 

INVESTMENT PLANNING

Yes

No

N/A

1. Now that retirement is here (or near), have plans been made to change how the retirement portfolio and other assets are invested?

 

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2. Will the client/advisor monitor the retirement portfolio and other investments throughout retirement and make changes when appropriate?

 

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3. Have expectations been established for how the retirement portfolio and other investments will perform in the coming years?

 

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4. Is some degree of investment risk acceptable to the client?

 

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5. Has a distribution strategy been discussed/developed?

 

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Notes:

 

 

INSURANCE PLANNING

Yes

No

N/A

1. If under age 65, will adequate health insurance be available until Medicare eligibility is established?

 

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2. If 65 or older, has a Medigap or other health policy been purchased to supplement Medicare, or is employer-sponsored coverage available?

 

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3. Is there long-term care insurance, or have this and other strategies been considered to protect against the cost of nursing home care?

 

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4. Have life insurance needs been revisited?

 

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5. Have other types of insurance coverage been reviewed?

  • Auto and homeowners
  • Disability (will end at retirement)
  • Liability
  • Other

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Notes:

 

 

ESTATE PLANNING

Yes

No

N/A

1. Will beneficiary designations be reviewed periodically?

  • Employer-sponsored plans
  • IRAs
  • Annuities
  • Life insurance
  • Other

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2. Has will been reviewed/updated?

 

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3. Is there a durable power of attorney or health-care proxy?

 

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4. Have other estate planning tools and strategies been considered?

  • Trusts
  • Gifting assets
  • Durable power of attorneys
  • Advanced medical directives
  • Other

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Notes:

 

 

 
 
Do you have questions or need help with understanding this information?

 


This information was prepared by Broadridge Investor Communication Solutions, Inc. and has been made available for Voya Financial Advisors' representatives for distribution to the public for educational information only. Broadridge Investor Communication Solutions, Inc. is not affiliated with nor controlled by Voya Financial Advisors. The opinions/views expressed within are that of Broadridge Investor Communication Solutions, Inc. and do not necessarily reflect those of Voya Financial Advisors or its representatives. In addition, they are not intended to provide specific advice or recommendations for any individual. Neither Voya Financial Advisors nor its representatives provide tax or legal advice. You should consult with your financial professional, attorney, accountant or tax advisor regarding your individual situation prior to making any investment decisions.